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The Bitcoin (BTC) thread
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Pinocchio Offline
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Post: #8026
RE: The Bitcoin (BTC) thread
(05-30-2019 01:31 AM)Nolimitz Wrote:  https://www.tradingview.com/u/MagicPoopCannon/

Here's a link to a trader's blog on btc/crypto. Interesting stuff. This trader believes we are currently in a bear rally. Calling for a price of 3k in October on the grounds that bitcoin is "linear". Also writes that the next bull run will see a ATH of 150k per.btc.Of course no one knows. Curious your guys' thoughts.

I follow him - he's not a bad analyst, although he tries to predict the future too much, a trap a lot 'TA' guys do imo.
(This post was last modified: 05-30-2019 12:50 PM by Pinocchio.)
05-30-2019 12:48 PM
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Pinocchio Offline
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Post: #8027
RE: The Bitcoin (BTC) thread
Looks like Peter McCormack is going to court with Craig Wright, should be fun to watch.
05-30-2019 12:49 PM
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JayJuanGee Offline
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Post: #8028
RE: The Bitcoin (BTC) thread
(05-30-2019 12:49 PM)Pinocchio Wrote:  Looks like Peter McCormack is going to court with Craig Wright, should be fun to watch.


Have actual court papers been filed?

So far all that I have seen or heard about in regards to the interaction between those two are threatening letters and adversarial comments back and forth, which does not even come close to rising to the level of a court case.

I have also heard that the UK is a lot more tolerant than the USA towards nuisance lawsuits. Many jurisdictions in the USA allow for counterclaims of Anti-SLAPP lawsuits that would cause the nuisance filer, Craig Wright in this case, to risk incurring punitive damages and having to pay attorney fees on both side, if it were to be determined that he had been purposefully using a lawsuit to silence public speech/criticisms.
05-30-2019 02:37 PM
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Pinocchio Offline
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Post: #8029
RE: The Bitcoin (BTC) thread
(05-30-2019 02:37 PM)JayJuanGee Wrote:  
(05-30-2019 12:49 PM)Pinocchio Wrote:  Looks like Peter McCormack is going to court with Craig Wright, should be fun to watch.


Have actual court papers been filed?

So far all that I have seen or heard about in regards to the interaction between those two are threatening letters and adversarial comments back and forth, which does not even come close to rising to the level of a court case.

I have also heard that the UK is a lot more tolerant than the USA towards nuisance lawsuits. Many jurisdictions in the USA allow for counterclaims of Anti-SLAPP lawsuits that would cause the nuisance filer, Craig Wright in this case, to risk incurring punitive damages and having to pay attorney fees on both side, if it were to be determined that he had been purposefully using a lawsuit to silence public speech/criticisms.

Yep papers got filed and I believe the deadline is today for Peter McCormack to respond and he said he's going to defend it. Yeah, from what I have heard the libel laws in UK are a bit backwards and it's on Peter McCormack to prove that Craig Wright isn't Satoshi...
05-31-2019 10:39 AM
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JayJuanGee Offline
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Post: #8030
RE: The Bitcoin (BTC) thread
(05-31-2019 10:39 AM)Pinocchio Wrote:  
(05-30-2019 02:37 PM)JayJuanGee Wrote:  
(05-30-2019 12:49 PM)Pinocchio Wrote:  Looks like Peter McCormack is going to court with Craig Wright, should be fun to watch.


Have actual court papers been filed?

So far all that I have seen or heard about in regards to the interaction between those two are threatening letters and adversarial comments back and forth, which does not even come close to rising to the level of a court case.

I have also heard that the UK is a lot more tolerant than the USA towards nuisance lawsuits. Many jurisdictions in the USA allow for counterclaims of Anti-SLAPP lawsuits that would cause the nuisance filer, Craig Wright in this case, to risk incurring punitive damages and having to pay attorney fees on both side, if it were to be determined that he had been purposefully using a lawsuit to silence public speech/criticisms.

Yep papers got filed and I believe the deadline is today for Peter McCormack to respond and he said he's going to defend it. Yeah, from what I have heard the libel laws in UK are a bit backwards and it's on Peter McCormack to prove that Craig Wright isn't Satoshi...

I had heard something like that too, which seems a bit ludicrous.

Edit:

Here's a link to Peter's twitter that shows current status, including his requesting donations.

https://twitter.com/PeterMcCormack/statu...9250581504
(This post was last modified: 05-31-2019 12:24 PM by JayJuanGee.)
05-31-2019 11:51 AM
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MrLemon Offline
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Post: #8031
RE: The Bitcoin (BTC) thread
(05-30-2019 12:48 PM)Pinocchio Wrote:  
(05-30-2019 01:31 AM)Nolimitz Wrote:  https://www.tradingview.com/u/MagicPoopCannon/

Here's a link to a trader's blog on btc/crypto. Interesting stuff. This trader believes we are currently in a bear rally. Calling for a price of 3k in October on the grounds that bitcoin is "linear". Also writes that the next bull run will see a ATH of 150k per.btc.Of course no one knows. Curious your guys' thoughts.

I follow him - he's not a bad analyst, although he tries to predict the future too much, a trap a lot 'TA' guys do imo.

TA doesn't work for Bitcoin. At all. Ever.

Every second you spend on TA for Bitcoin is a second of your life you have wasted forever.
05-31-2019 10:32 PM
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JayJuanGee Offline
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Post: #8032
RE: The Bitcoin (BTC) thread
Below is linked an interesting development to put tether on the lightning network by the end of the year. A projection that is a bit into the future, but still interesting.


https://www.theblockcrypto.com/2019/05/3...ever-done/
06-01-2019 07:59 AM
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JayJuanGee Offline
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Post: #8033
RE: The Bitcoin (BTC) thread
(05-31-2019 10:32 PM)MrLemon Wrote:  
(05-30-2019 12:48 PM)Pinocchio Wrote:  
(05-30-2019 01:31 AM)Nolimitz Wrote:  https://www.tradingview.com/u/MagicPoopCannon/

Here's a link to a trader's blog on btc/crypto. Interesting stuff. This trader believes we are currently in a bear rally. Calling for a price of 3k in October on the grounds that bitcoin is "linear". Also writes that the next bull run will see a ATH of 150k per.btc.Of course no one knows. Curious your guys' thoughts.

I follow him - he's not a bad analyst, although he tries to predict the future too much, a trap a lot 'TA' guys do imo.

TA doesn't work for Bitcoin. At all. Ever.

Every second you spend on TA for Bitcoin is a second of your life you have wasted forever.

I take TA with a considerable grain of salt, but I would not proclaim (like you do MrLemon) that either it does not work or that it does not have no purpose in bitcoin.

Seems to me that TA tells us something about BTC price dynamics and momentum, and through that we cam make certain kinds of probability calculations about scenarios that are more or less likely to happen, whether looking at changes in trade volume or how fast price moves are happening and whether buy support can keep up in order to sustain such a price, for example when BTC's price is going up.... or even when it is crashing down.

If you do not attempt to categorize some of these kinds of BTC price dynamics including probabilities for a price direction to continue or change, then what are you going to argue pushes the BTC price, pure manipulation? I don't buy that.

On the other hand, I do agree with any suggestion that many TA's attempt to place too much certainty upon what is going to happen, and they have a tendency to mislead in the certainty direction. A large majority of them also fail to place BTC as an immature market that likely has an exponential s-curve that biases upwards price movement - and in that regard, a vast majority of the TA proclamations tend to imply way too much maturity in the BTC market... when BTC seems to be mere babies with a long damned way to go prior to becoming even close to mature... even while on an ongoing basis we can see continuous BTC growth and the adoption of more and more liquidation avenues and financial tools that push bitcoin towards becoming way more mature, legitimate and adopted.
06-01-2019 08:10 AM
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JayJuanGee Offline
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Post: #8034
RE: The Bitcoin (BTC) thread
Here's an interesting chart that was tweeted out...

Lot's of nice colors that attempts to categorize BTC price movement periods.

https://twitter.com/Pladizow/status/1134486118093770752

[Image: ?u=https%3A%2F%2Fpbs.twimg.com%2Fmedia%2...2M5aR8c1Ww]
06-01-2019 09:03 AM
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JayJuanGee Offline
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Post: #8035
RE: The Bitcoin (BTC) thread
In the past few hours, I came across the below-linked article (from today) that describes that LocalBitcoins is removing all abilities for its users to engage in person-to-person transactions through its services.

http://www.xbt.money/localbitcoins-remov...-elsewhere

My first reaction was: "Holy fucking shit!!!!!!"

"Must have been coordinating with Roosh to perform June 1 rule changes..." hahahahahaha..... just kidding on that last part.. but I did think the "holy shit" part.

Before looking at the article, I had not even realized that this change had taken place.

I am thinking that there must be some kind of investigation and/or harassment of the localbitcoins's administrators to cause them to go down such an extreme path in such a short period of time.

First, within the past 6 months or so, LocalBTC had begun to require additional information to be provided to them through the deployment of further AML/KYC requirements, and some of us Local bitcoin users likely complied with those seemingly draconian changes, and then they went a step further (most recent changes), with even more severe (seemingly draconian measures)...

Gotta be something BIG going on with them behind the scenes.

By the way, when I read this article, and as I drafted this here post, I decided to go to my LocalBitcoin's account to see what was going on, and I saw that my advertisements on their services had been deactivated, and it even appears that LocalBitcoins had reduced my ability to create advertisements, therein, and by looking around I could not figure out what was going on. I looked to see whether they had created some kind of notice or message that would explain, and I could not find any kind of explanation or disclosure whatsoever.

Made me nervous, so I decided to withdraw all of my BTC. I mean, what is the purpose of keeping some of my coins there if there seems to be absolutely no way to use their exchange, except to go through some kind of bank (or money service) transfer with any potential contacts?

All of this seems quite sad for anyone who may have built a decent reputation on the Localbitcoins service. I will keep my LocalBTC account for a bit of time and monitor whether they might change back to some version of their previous service or maybe they will send out some kind of explanation regarding what is going on that will sufficiently clarify the seeming change of their past practice.

Seems like this local bitcoin's change is going to inspire the generation of some new person to person services to possibly fulfill such a hole in the ecosystem that seems to have been created by such a previously popular service.... also, could be interesting to find out whether this is a world-wide change on localbitcoins or whether the change in their service only affects certain kinds of customers.. geographically identified or otherwise identified?
06-02-2019 05:08 PM
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Post: #8036
RE: The Bitcoin (BTC) thread
^ consider yourself lucky you were never busted in an FBI sting. I knew localbitcoins was dead when they started asking for KYC ages ago.
06-03-2019 12:49 AM
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JayJuanGee Offline
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Post: #8037
RE: The Bitcoin (BTC) thread
(06-03-2019 12:49 AM)[email protected] Wrote:  ^ consider yourself lucky you were never busted in an FBI sting. I knew localbitcoins was dead when they started asking for KYC ages ago.

Yeah, perhaps.

I tried to keep my transactions on there real small, and I was pretty adamant to screen out contacts who were trying to push me to go beyond the terms of my advertisement and otherwise renegotiate the terms of my advertisement in terms of various preferences that they mentioned to me.
06-03-2019 12:53 AM
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JayJuanGee Offline
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Post: #8038
RE: The Bitcoin (BTC) thread
Here's a link to a nice little quickie dollar cost averaging calculator.

You can put in your amount per day, per week, per month or per year and calculate how much you would have invested into bitcoin and what your profit or loss situation would have been.


For shits and giggles, I put in $5 per day from about the time that I began buying BTC and it shows that from that kind of investment, I would have achieved a $134k in value in bitcoin based on about a $10k investment.
06-03-2019 03:42 AM
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YetiECV Offline
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Post: #8039
RE: The Bitcoin (BTC) thread
Under 8000 it goes
06-03-2019 07:47 PM
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Jaydublin Offline
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Post: #8040
RE: The Bitcoin (BTC) thread
(06-03-2019 12:49 AM)[email protected] Wrote:  ^ consider yourself lucky you were never busted in an FBI sting. I knew localbitcoins was dead when they started asking for KYC ages ago.

Is it illegal to sell bitcoin peer to peer?
06-03-2019 08:37 PM
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rpg Offline
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Post: #8041
RE: The Bitcoin (BTC) thread
(06-03-2019 07:47 PM)YetiECV Wrote:  Under 8000 it goes

Great buy opportunity.
06-03-2019 09:08 PM
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JayJuanGee Offline
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Post: #8042
RE: The Bitcoin (BTC) thread
(06-03-2019 08:37 PM)Jaydublin Wrote:  
(06-03-2019 12:49 AM)[email protected] Wrote:  ^ consider yourself lucky you were never busted in an FBI sting. I knew localbitcoins was dead when they started asking for KYC ages ago.

Is it illegal to sell bitcoin peer to peer?

I think the concerns are whether a guy would be engaging in a financial services business without a license if he is engaging in large transactions, then there is a duty to report, if above $10k and also perhaps know your customer (KYC) and anti-money laundering (AML) requirements.

Seems to be a decently unclear area, but a guy would likely draw more attention to himself if he is engaging in BIG and frequent transactions.

Probably, you could google and find a decent amount of ambiguity in the cases that had been targeted, maybe both small and large ones, and likely if you transact with someone who had been targeted, then you could end up being associated and traced, and become a target because of your transaction with arguably questionable peeps.
06-03-2019 10:22 PM
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JayJuanGee Offline
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Post: #8043
RE: The Bitcoin (BTC) thread
(06-03-2019 09:08 PM)rpg Wrote:  
(06-03-2019 07:47 PM)YetiECV Wrote:  Under 8000 it goes

Great buy opportunity.

BTC price has been holding up pretty well in the past couple of weeks, so who really knows. If bears can get a bit of downward momentum and spread a bit of FUD, then maybe that would help to increase the downward momentum in terms of duration and amount of any correction.

Seems like nothing too dramatic, yet.
06-03-2019 10:25 PM
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ScrapperTL Offline
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Post: #8044
RE: The Bitcoin (BTC) thread
Interesting article from Craig Wright, a man that many believe to be Satoshi Nakamoto.

https://craigwright.net/blog/bitcoin-blo...d-science/

“Bitcoin isn’t some immutable system that acts outside of the law. Such is what criminals want, and it is not what I developed. If you think blockchain helps you make a criminal system, one that cannot be stopped, then you are absolutely stupid. Bitcoin is about the same as having a bunch of law enforcement officials that are incorruptible walk behind you every step of the way any time you want to create a crime. When you’re acting responsibly and within the law, they are not there. When you seek to scam people, to engage in fraud, it is a system that will record your actions.

I’ve said many times that Bitcoin was set in stone. To be decentralised, it requires a stable protocol. In fact, as I have said, “the only job the network needs to do is to tell whether a spend of an outpoint is the first or not.” Nodes don’t set protocol changes, they choose to enforce existing rules and can put limits within such rules. No more, no less.

What you are going to discover is that I am pro law and that there is no anarchy in Bitcoin.

I’m choosing court as a means to prove my identity as it is the correct place to determine truth. If you believe the truth is obtained through a key, then you are seeking something other than Bitcoin. Which is what people such as those who created Silk Road wanted. They are the ones who took my invention and tried to flush it down the toilet and ended up getting 1% of what they deserved as a result. And yes, I believe they got off easy.

It’s remarkably funny how people keep quoting things that I didn’t say or that are taken out of context. Some of the so-called quotes attributed to me are not what I said, rather comments I was rebutting. There is no single quote in existence from my time when I acted as Satoshi that is anti-bank, that is anti-government, or that is anti-court. There is nothing in my entire time talking to people that can be taken to be even remotely anarchist. Yet people cherry-pick parts of a statement and twist it maliciously to create something that BitCoin was not.


My code was always covered by copyright. It’s right there in the initial version. The © marker means that I expressed copyright and intellectual property law from day one. I did not bypass and give up copyright. I allowed licensing of the code. And even that does not cover passing off. Ethereum, as much as a dead end as it is, is not passing off trying to be Bitcoin. Litecoin, as much as a childish representation of the system it is that follows any stupid change, is not trying to pass itself off as Bitcoin. BTC is. It split, and resulted as an airdrop copy that has fraudulently been using the name of Bitcoin from 2017 on.

The aim of all such changes and the fraudulent airdrop is very simple: it’s an attempt to make a system that acts outside of law, allows terrorist funding, and helps many other scams and frauds. That’s it. And the thing is, it’s very very simple to stop. People are going to wake up one day and not find that the value of their BTC investment is diminishing, but that it is zero. When such types of crime coins end, they don’t end slowly — they end in an instant. One moment you will be looking at US$8000 per coin, the next global trading will be suspended.”
06-04-2019 12:29 AM
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[email protected] Offline
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Post: #8045
RE: The Bitcoin (BTC) thread
(06-04-2019 12:29 AM)ScrapperTL Wrote:  Interesting article from Craig Wright, a man that many believe to be Satoshi Nakamoto.

https://craigwright.net/blog/bitcoin-blo...d-science/

“Bitcoin isn’t some immutable system that acts outside of the law. Such is what criminals want, and it is not what I developed. If you think blockchain helps you make a criminal system, one that cannot be stopped, then you are absolutely stupid. Bitcoin is about the same as having a bunch of law enforcement officials that are incorruptible walk behind you every step of the way any time you want to create a crime. When you’re acting responsibly and within the law, they are not there. When you seek to scam people, to engage in fraud, it is a system that will record your actions.

I’ve said many times that Bitcoin was set in stone. To be decentralised, it requires a stable protocol. In fact, as I have said, “the only job the network needs to do is to tell whether a spend of an outpoint is the first or not.” Nodes don’t set protocol changes, they choose to enforce existing rules and can put limits within such rules. No more, no less.

What you are going to discover is that I am pro law and that there is no anarchy in Bitcoin.

I’m choosing court as a means to prove my identity as it is the correct place to determine truth. If you believe the truth is obtained through a key, then you are seeking something other than Bitcoin. Which is what people such as those who created Silk Road wanted. They are the ones who took my invention and tried to flush it down the toilet and ended up getting 1% of what they deserved as a result. And yes, I believe they got off easy.

It’s remarkably funny how people keep quoting things that I didn’t say or that are taken out of context. Some of the so-called quotes attributed to me are not what I said, rather comments I was rebutting. There is no single quote in existence from my time when I acted as Satoshi that is anti-bank, that is anti-government, or that is anti-court. There is nothing in my entire time talking to people that can be taken to be even remotely anarchist. Yet people cherry-pick parts of a statement and twist it maliciously to create something that BitCoin was not.


My code was always covered by copyright. It’s right there in the initial version. The © marker means that I expressed copyright and intellectual property law from day one. I did not bypass and give up copyright. I allowed licensing of the code. And even that does not cover passing off. Ethereum, as much as a dead end as it is, is not passing off trying to be Bitcoin. Litecoin, as much as a childish representation of the system it is that follows any stupid change, is not trying to pass itself off as Bitcoin. BTC is. It split, and resulted as an airdrop copy that has fraudulently been using the name of Bitcoin from 2017 on.

The aim of all such changes and the fraudulent airdrop is very simple: it’s an attempt to make a system that acts outside of law, allows terrorist funding, and helps many other scams and frauds. That’s it. And the thing is, it’s very very simple to stop. People are going to wake up one day and not find that the value of their BTC investment is diminishing, but that it is zero. When such types of crime coins end, they don’t end slowly — they end in an instant. One moment you will be looking at US$8000 per coin, the next global trading will be suspended.”

I don't know anybody, at least publicly, that actually believes CW is Satoshi. I really wish he would disappear from the crypto news cycle.
06-04-2019 03:04 AM
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Post: #8046
RE: The Bitcoin (BTC) thread
Here's a better Craig Wright article: https://bitcoinmagazine.com/articles/op-...ke-wright/

Cliff notes: The guy is a fraud.
06-04-2019 09:05 AM
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Post: #8047
RE: The Bitcoin (BTC) thread
I'm quite sure by now you must have gotten a reliable site to purchase your bitcoin. What I would like to offer you is a powerful platform that will help you invest your bitcoin. I invested few months ago in a platform that my friend introduced to me it's crazy how much my life and game has changed. I made a large amount of money from my investment which was no little than 2000USD which improved my life and game greatly. I'll willing to share, my only take is for you to use my referral. You could try investing less just to give it a try.
06-07-2019 02:22 AM
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redbeard Offline
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Post: #8048
RE: The Bitcoin (BTC) thread
New peer-to-peer exchange allows you to buy BTC with paypal, alts, gift cards, and more: paxful.com
06-08-2019 10:58 PM
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JayJuanGee Offline
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Post: #8049
RE: The Bitcoin (BTC) thread
(06-08-2019 10:58 PM)redbeard Wrote:  New peer-to-peer exchange allows you to buy BTC with paypal, alts, gift cards, and more: paxful.com

Has any guy here used paxful? I had heard about it for quite a while as a competitor to Localbitcoins, but I never really looked into it, since localbitcoins had mostly been serving my purposes, in terms of from time to time exchanging of bitcoin and dollars. But, yeah, now that has all seemed to have dried up on localbitcoins because I have little to no inclination to exchange through electronic transfers (I want to do person to person cash)....

Anyhow, interesting to hear if guys have experiences with paxful.

I am also a bit sad, because I had thought that I had built up a decent reputation on local bitcoins that i thought would serve me as a kind of insurance, so that when I travelled, I might be able t use that built up reputation to cause me (perhaps?) better trading circumstances.

If I don't get kicked off of Localbitcoins, for failure to maintain a balance, then I will keep my account there for a while with the hope that perhaps they might go back to allowing person to person cash transfers in the future... doubtful, but I am not yet willing to give up hope in that direction.
06-09-2019 11:08 AM
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Post: #8050
RE: The Bitcoin (BTC) thread
I just checked paxful.com. It's a nice layout but barely anyone using it for cash. It will eventually fall in line. There's localmonero which still has cash payments (mostly in small quantities under $100).
(This post was last modified: 06-09-2019 07:22 PM by [email protected].)
06-09-2019 07:20 PM
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